|
Website Login
Register   |   Forgot Your Password?
Search

Licensing

FNF Best Practices  /  Licensing


Licensing

1. LICENSING

Establish and maintain current license(s) as required to conduct the business of title insurance and settlement services.

Purpose: Maintaining state mandated insurance licenses and corporate registrations (as applicable) helps ensure the company remains in good standing with the state.


What This Means From a Customer's Viewpoint

"You will be licensed and comply with the law."

FNF AGENCY STAFF & RESOURCES

We Can Help You Every Step of the Way

Licensing and maintenance of your office licenses are a critical part of your business. Each state has different procedures for licensing, license renewals and maintenance of those licenses. The functions of a licensee can be defined differently from state to state and laws can change without notice. It is important to work with your local representative on these nuances in order to maintain the proper protocols.

Here are some questions that you need to ask when establishing your licensing procedures, as well as, our suggestions and solutions.

Licensing Procedures
  • What job functions need to be licensed?

  • Who is performing those functions?

  • What individual licensees are affiliated with your agency?

  • How are individual and agency licenses tracked?

  • Do you have an adequate number of licensees to cover for vacations, medical leave, etc.?

  • Establish and maintain appropriate compliance with ALTA's Policy Forms Licensing.

  • Assign the duty of licensing appointment and termination notices/requests to the underwriters that your agency has Agency Contracts with. One person should be responsible for this task. There should be a process in place for underwriter notification on licensees regarding appointments/termination of appointments as part of your hiring/firing procedure.

  • Assign the duty of confirming annually, that all employees required to be licensed under your state laws are licensed, property appointed, license addresses current etc. and establish a written confirmation as to who/when/how this was done.

Our Suggestions / Our Solutions:

Research your state insurance laws to be sure your licensing practices are in compliance and set a regular repetitive schedule for reviewing to be sure all your licensing issues are current, documenting the review date and who completed it.

Assigning Responsibility - Who is going to do these procedures in your office? How are they going to document that they accomplished these?

Our Agency Representatives can help you identify where to find the resources for the state specific requirements for licensing and procedures for renewals, if any. These resources can be your State's Department of Insurance, a State's Secretary of State Office or other Licensing Entity.

For more information on how we can help you establish the necessary processes related to this best practice contact your local FNF Agency Representative.

 

Want to create your own policies and procedures?

 Please login, if you are an FNF Agent, for the Tools and Resources to complete this pillar on your own.